US STOCKS-S&P briefly turn negative for the year as yuan tumbles

miércoles 12 de agosto de 2015 11:33 GYT
 

* Chinese yuan hits four-year low, falling for second day

* Dow reaches 6-month low, Nasdaq hits 1-month low

* Alibaba falls to record low as revenue growth slows

* Traders price less than 40 pct chance for Sept rate hike

* Indexes down: Dow 1.3 pct, S&P 1.3 pct, Nasdaq 1.6 pct (Adds details, changes comment, updates prices)

By Tanya Agrawal

Aug 12 (Reuters) - Wall Street was down more than 1 percent for the second day in a row, with the S&P 500 briefly turning negative for the year, as the continued decline in the yuan exacerbated fears about a global economic slowdown.

The Dow fell to a six-month low on Wednesday, while the Nasdaq and the S&P hit a one-month low in a broad decline.

Nine of the 10 major S&P 500 sectors were lower. The financial index's 1.96 percent fall led the decliners on speculation that the yuan's devaluation might push the Fed to hold off until December to raise rates.   Continuación...